Exelon Corporation is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Exelon Corporation (NASDAQ: EXC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Exelon Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Chicago, IL based Exelon Corporation, a utility services holding company, engages in energy generation and delivery businesses in the United States and Canada. Exelon Corporation reported that its annual Total Revenue rose from over $33.53 billion in 2017 to over $35.98 billion in 2018 and that its Net Income declined from $3.77 billion in 2017 to $2.01 billion in 2018.
On October 15, 2019, Exelon Corporation announced the immediate retirement of Anne Pramaggiore, the Company's Senior Executive Vice President and CEO.
According to an article, the abrupt departure of the Company's Senior Executive Vice President and CEO occurred amid federal investigations and subpoenas concerning lobbying activities and an expanding investigation of Senator Martin Sandoval. According to the article, the Company's Senior Executive Vice President and CEO previously ran Commonwealth Edison ("ComEd"), Exelon's Chicago-based utility, which is "among the most prominent lobbyists in Springfield because it has a legal monopoly on power delivery in northern Illinois and must follow rates and rules set by the state."
Then, on October 31, 2019, Exelon Corporation filed its quarterly report on Form 10-K with the SEC in which it disclosed that "[o]n October 22, 2019, the SEC notified Exelon and ComEd that it has also opened an investigation into their lobbying activities."
Shares of Exelon Corporation (NASDAQ: EXC) declined from $49.32 per share in September 2019 to as low as $43.92 per share on November 11, 2019.
Those who purchased shares of Exelon Corporation (NASDAQ: EXC) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
